New Vernon Investment Management LLC Buys 84,522 Shares of Hamilton Insurance Group, Ltd. (NYSE:HG)

New Vernon Investment Management LLC grew its stake in Hamilton Insurance Group, Ltd. (NYSE:HG) by 603.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 98,522 shares of the company’s stock after purchasing an additional 84,522 shares during the quarter. Hamilton Insurance Group makes up 2.1% of New Vernon Investment Management LLC’s holdings, making the stock its 16th largest holding. New Vernon Investment Management LLC’s holdings in Hamilton Insurance Group were worth $1,905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Financial Management Professionals Inc. bought a new position in Hamilton Insurance Group during the third quarter worth about $34,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Hamilton Insurance Group during the second quarter worth about $34,000. US Bancorp DE bought a new position in Hamilton Insurance Group during the third quarter worth about $107,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Hamilton Insurance Group during the second quarter worth about $156,000. Finally, Landscape Capital Management L.L.C. bought a new position in Hamilton Insurance Group during the third quarter worth about $197,000. Institutional investors own 29.17% of the company’s stock.

Hamilton Insurance Group Trading Down 0.2 %

Shares of Hamilton Insurance Group stock traded down $0.04 during trading on Tuesday, hitting $18.93. The company’s stock had a trading volume of 57,830 shares, compared to its average volume of 427,589. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a market cap of $1.92 billion and a price-to-earnings ratio of 4.24. The stock has a 50-day moving average price of $18.43 and a two-hundred day moving average price of $17.73. Hamilton Insurance Group, Ltd. has a 52 week low of $12.44 and a 52 week high of $20.71.

Hamilton Insurance Group (NYSE:HG) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The firm had revenue of $512.84 million during the quarter, compared to the consensus estimate of $515.96 million. Hamilton Insurance Group had a return on equity of 21.92% and a net margin of 21.88%. During the same period last year, the business posted $0.41 EPS. Equities research analysts anticipate that Hamilton Insurance Group, Ltd. will post 4.03 EPS for the current fiscal year.

Insider Activity at Hamilton Insurance Group

In other news, CAO Brian John Deegan sold 17,500 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $19.18, for a total transaction of $335,650.00. Following the completion of the sale, the chief accounting officer now owns 20,824 shares in the company, valued at $399,404.32. This trade represents a 45.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

HG has been the subject of a number of research analyst reports. JMP Securities lifted their price target on Hamilton Insurance Group from $23.00 to $25.00 and gave the stock a “market outperform” rating in a report on Thursday, August 8th. Wells Fargo & Company raised their price objective on shares of Hamilton Insurance Group from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Morgan Stanley downgraded shares of Hamilton Insurance Group from an “overweight” rating to an “equal weight” rating and set a $19.00 price objective for the company. in a research report on Monday, August 19th. Keefe, Bruyette & Woods raised their price objective on shares of Hamilton Insurance Group from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Finally, Barclays assumed coverage on shares of Hamilton Insurance Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $26.00 price objective for the company. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $21.43.

About Hamilton Insurance Group

Hamilton Insurance Group, Ltd., through its subsidiaries, provides underwriting specialty insurance and reinsurance risks in Bermuda and internationally. The company operates Hamilton Global Specialty, Hamilton Select, and Hamilton Re underwriting platforms. The company offers casualty reinsurance products, such as commercial motor, general liability, healthcare, multiline, personal motor, professional liability, umbrella and excess casualty, and worker's compensation and employer's liability reinsurance; property reinsurance and insurance; and specialty reinsurance solutions, including accident and health, aviation and space, crisis management, mortgage, financial lines, marine and energy, and multiline specialty.